Centric has published the public report with the annual figures for 2019. Last year's turnover amounted to 482 million euros and the net result came to 9.8 million euros. Positive figures, which are slightly lower than last year due to investments and the sale of several activities.
In 2019, Centric made a number of in-depth investments to improve and further expand the product and services portfolio. For example, the propositions for the pension market, HR & Payroll and decentralized government are functionally enriched and we make it possible to offer products such as Software as a Service (SaaS) from the cloud.
In connection with this move to the cloud, we have also taken the services portfolio of the Managed Services division to a higher level, including a new layout that makes it possible to better serve specific markets.
Spreading activities ensures continuity
The fact that turnover has remained stable over the years is due to Centric's strategic focus on the Dutch public and financial sector and the international supply chain. This spread of activities and markets contributes to the continuity of the organization.
Nevertheless, the turnover and result for 2019 have slightly decreased. In addition to the investments mentioned, this is partly due to the sale of both the hardware reselling activities (at the end of 2018) and the Housing Solutions unit (at the beginning of 2019).
Strong financial position
Henny Luijrink - CEO Centric: “In 2019, we focused on restructuring a number of business units, focusing on the corporate culture, increasing financial insight and applying the right focus. Another important factor was the further expansion of our nearshore activities in Lithuania to support the entire transformation to cloud services and in Romania to support the diversification of our product portfolios. The extra investments have an impact on the 2019 result, but are necessary to build our future.”
Patrick Rosengarten - Centric CFO: “We have a strong financial position. In addition to the profit that we have generated despite various investments, liquidity with a current ratio of 1.3 is more than sufficient. In addition, cash flow has been showing the same stable pattern for years. Therefore, the company does not use external financing and financial instruments.”
Henny Luijrink about 2020: “If we look at the results of the first six months of this year, we are cautiously positive about it. We keep a close eye on developments in the various markets in which we operate and try to respond as flexibly as possible.”